For the procurement team at Virgin Atlantic, ‘Buying at our Best’ is not just an aspirational notion, but now also a well-planned and successfully completed strategy.
The aim was to become a sourcing function that engages with stakeholders to achieve commercial results, as well as to be a procurement team that was central to the company’s ongoing business strategy. The Buying at our Best project ran for two years, overhauling processes, people and technology. Training was improved, frameworks and processes simplified, and innovative SRM programmes implemented. The result was a better understanding of supply and procurement roles by the board, as well as improved best practice knowledge across the business. Benefits to the organisation have been many and varied, with £10.3m annual savings, access to cutting-edge IT systems, better CSR and compliance policies and CIPS-qualified staff just a few of the improvements noted.
Judges said: “An excellent example of step change within an established procurement function. Great engagement with stakeholders led to greater recognition of procurement within the business.”